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Ratings assigned and not accepted (as on 10 Oct 2026)

1 2 3 4 5 6 7 8 9 10 11 12 13 14
Sl. No. Name of the Issuer Sector Security/Instrument Type Issue Size
(In INR Million) 		Date of Non-Acceptance Listing Status
(Listed/Proposed to be listed/Unlisted) 		Rating assigned along with Outlook
(if any) 		Whether the rating was accepted by the issuer, subsequent to the disclosure of un-accepted ratings?
(Yes/No) 		Date of subsequent acceptance of final rating assigned Final rating accepted by the issuer Whether the issuer requested for a review/appeal subsequent to disclosure of unaccepted rating?
(Yes/No) 		Whether review/appeal of the disclosed unaccepted rating was granted by ICRA.
(Yes/No) 		Remarks
(wherever applicable)
1 Century Infra Limited Transport Infrastructure Bank Facilities 1000 12 Jan 2026 Unlisted [ICRA]BBB+(Stable) No No
2 Century Ports Limited Transport Infrastructure Bank Facilities 1100 12 Jan 2026 Unlisted [ICRA]BBB-(Stable) No No
3 JK Maini Global Aerospace Limited Aerospace & Defense Bank Facilities 5000 07 Jan 2026 Unlisted [ICRA]A(Stable) /[ICRA]A1 No No
4 JK Maini Precision Technology Limited Auto Components Bank Facilities 9500 07 Jan 2026 Unlisted [ICRA]A+(Stable) /[ICRA]A1 No No
5 MINERALIA IMPEX PRIVATE LIMITED Diversified Bank Facilities 100 05 Jan 2026 Unlisted [ICRA]BB-(Stable) /[ICRA]A4 No No
6 Innomotics India Private Limited Electrical Equipment Bank Facilities 3000 29 Dec 2025 Unlisted [ICRA]BBB(Stable) /[ICRA]A3+ Yes 07 Jan 2026 [ICRA]BBB(Stable) /[ICRA]A3+ No
7 ACKO General Insurance Limited Insurance Subordinated Debt 1000 15 Dec 2025 Proposed to be listed [ICRA]A- (Stabl) No No
8 Arisinfra Solutions Limited Commercial Services & Supplies Bank Facilities 1500 15 Dec 2025 Unlisted [ICRA]BB+(Stable) /[ICRA]A4+ No No
9 Shirdi Sai Electricals Limited Industrial Manufacturing Bank Facilities 7500 11 Dec 2025 Unlisted [ICRA]BB+(Stable) /[ICRA]A4+ No No
10 MITSUBISHI ELECTRIC INDIA PVT. LTD. Consumer Durables Issuer Rating 0 08 Dec 2025 Unlisted [ICRA]AA+(Stable) No No
11 Assago Industries Private Limited Beverages Bank Facilities 2700 17 Nov 2025 Unlisted [ICRA]BB+(Stable) Yes 20 Mar 2026 [ICRA]BB+(Stable) No
12 KG Flexx Private Limited Industrial Products Bank Facilities 315 12 Nov 2025 Unlisted [ICRA]BB+(Positive)/[ICRA]A4+ No No
13 Gargya Autocity Private Limited Automobiles Bank Facilities 140.5 11 Nov 2025 Unlisted [ICRA]BB (Stable) Yes 19 Nov 2025 [ICRA]BB(Stable) No
14 Bluebird Solar Private Limited Industrial Products Issuer Rating 0 11 Nov 2025 Unlisted [ICRA]BB (Stable) No No
15 Nido Home Finance Limited Finance HL Trust 30-Series A1 ABS 236.9 06 Nov 2025 Unlisted Provisional [ICRA]AAA(SO) No No
16 Shakti Nutritions Private Limited Agricultural Food & other Products Bank Facilities 2410 06 Nov 2025 Unlisted [ICRA]BBB-(Stable)/[ICRA]A3 No No
17 Shakti Apifoods Private Limited Agricultural Food & other Products Bank Facilities 1600 06 Nov 2025 Unlisted [ICRA]BBB-(Stable) No No
18 Purva Metal Sections Pvt Ltd Industrial Products Bank Facilities 800 30 Oct 2025 Unlisted [ICRA]BB+(Stable) No No
19 Shiva Ferric Pvt Ltd Metals & Minerals Trading Bank Facilities 800 30 Oct 2025 Unlisted [ICRA]BB+(Stable) No No
20 Findi India Limited Other Consumer Services Bank Facilities 500 30 Oct 2025 Unlisted [ICRA]BBB-(Stable) /[ICRA]A3 No No
21 STERLING GREEN POWER SOLUTIONS PRIVATE LIMITED Electrical Equipment Bank Facilities 750 30 Oct 2025 Unlisted [ICRA]BBB(Stable)/[ICRA]A3+ No No
22 Headsup B2B Private Limited Commercial Services & Supplies Issuer Rating 0 27 Oct 2025 Unlisted [ICRA]BB-(Stable) No No
23 Sri Ramraghav Mills Textiles & Apparels Bank Facilities 250 23 Oct 2025 Unlisted [ICRA]BB+(Stable) No No

Disclaimers :

Please note that unaccepted ratings are not subject to the periodic monitoring/surveillance exercise and may not be representative of the current credit quality of the rated entity. Additionally, ICRA Ratings should not be treated as a recommendation to buy, sell, or hold the rated debt instruments. For ratings which were un-accepted by the Issuer prior to 1st February 2023, the status in column 9 to 14 is updated only if the respective event has occurred after 1st February 2023.

For ratings which are un-accepted by the Issuer on or after 1st February 2023, the status in column 9 to 14 is shown as on date of issue of this disclosure. The '*' sign denotes that rating has been accepted. All accepted ratings are subject to a process of surveillance, which may warrant a revision in ratings.

Please visit our website (https://www.icra.in) or contact any ICRA office for the latest information on ICRA outstanding Ratings. You may also refer to the current rating list (https://www.icra.in/Rating/Index) published on ICRA website for further information on rated instruments.